Is February the new spring?
What happens to all the home owners who sold in spring, and didn’t manage to find their new dream home prior to their sale? As settlement on their property gets closer their search for a new home intensifies. Listing your home prior to Christmas may now be a challenge so we suggest putting it on the market early in the New Year, enabling you to take advantage of their search.
Not only will you capture this market but also those buyers who missed out on buying their new home in the spring market. With fewer property listings and a stable and intensive buyer pool bringing more competition to your property sale you have a greater opportunity to secure a premium price.
In addition to these selling conditions the big 4 banks stepping outside the Reserve Bank cycle and announcing variable interest rate rises in October will also impact the available stock in the early New Year. This development may create market uncertainty with both investors and owner occupiers holding onto property with a wait and see attitude creeping into the market psyche. The banks attributed the need for this rise to market conditions, along with regulatory changes which require them to increase the amount of capital they hold against their home loan portfolios.
Breaking with the traditional property market cycle, which has invariably been quieter in February allows you to take advantage of lower stock levels and an intensive and motivated buyer pool. A larger buyer pool obviously generates more competition for the available properties on the market and more competition translates into you achieving the highest possible price. February really has the potential to become the new spring.